Ferrari profit steady as it recovers lost lockdown output

MILAN (AP) — Luxury sportscar maker Ferrari reported flat profits in the third quarter as it recovers lost production from the coronavirus shutdown. The company based in the northern Italian city of Maranello said net profit was 171 million in the quarter, compared with 169 million in the same period last year. Shipments were down by 161 units, to 2,313 vehicles. Ferrari said it is still working on recovering the 2,000 vehicle production loss during Italy’s seven-week shutdown.